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WCCFDC reports $50,000 agency fee and considers short-term investment
Summary
Deputy Director Katie Bronson reported the WCCFDC received $50,000 from a regional hospital improvement project and the Finance Committee discussed placing the funds in the organization's Money Market account to earn interest while preserving flexibility for loan development needs.
Deputy Director Katie Bronson opened the Fiscal Officer’s Report and said the organization received $50,000 in early December from the regional hospital improvement project as an agency fee. The Finance Committee discussed investing the funds into the organization's Money Market account to earn additional interest while keeping funds available should a qualifying project in the loan development portfolio need additional funding.
Bronson then reviewed the 2025 Budget vs. Actuals report; no questions were raised. The meeting minutes record the board's review of the account balances and the Finance Committee's recommendation to use short-term, flexible investments for the fee proceeds.
